AST SpaceMobile Inc (ASTS) 2024 Q2 法說會逐字稿

Good day, and thank you for standing by.

美好的一天，感謝您的支持。

Welcome to the AST SpaceMobile second quarter 2024 business update call.

歡迎參加 AST SpaceMobile 2024 年第二季業務更新電話會議。

Please be advised that today's conference is being recorded.

請注意，今天的會議正在錄製中。

I would now like to hand the conference over to your host today, Scott Wisniewski, Chief Strategy Officer of AST SpaceMobile.

現在我想將會議交給今天的東道主 AST SpaceMobile 首席策略長 Scott Wisniewski。

Please go ahead.

請繼續。

Thank you, and good afternoon, everyone.

謝謝大家，大家下午好。

Let me refer you to Slide 2 of the presentation, which contains our Safe Harbor disclaimer.

請參閱簡報的投影片 2，其中包含我們的安全港免責聲明。

During today's call, we may make certain forward-looking statements.

在今天的電話會議中，我們可能會做出某些前瞻性陳述。

These statements are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties.

這些陳述是基於當前的預期和假設，因此存在風險和不確定性。

Many factors could cause actual events to differ materially from the forward-looking statements on this call.

許多因素可能導致實際事件與本次電話會議中的前瞻性陳述有重大差異。

For more information about these risks and uncertainties, please refer to the Risk Factors section of AST SpaceMobile's Annual Report on 10-K for the year that ended December 31, 2023, with the Securities and Exchange Commission and other documents filed by AST SpaceMobile with the SEC from time to time.

有關這些風險和不確定性的更多信息，請參閱AST SpaceMobile 向美國證券交易委員會提交的截至2023 年12 月31 日的10-K 年度報告的風險因素部分以及AST SpaceMobile 向美國證券交易委員會提交的其他文件。

Also, after our initial remarks, we will begin the Q&A section with questions submitted by our shareholders.

此外，在我們的初步發言之後，我們將以股東提出的問題開始問答部分。

Welcome, everyone.

歡迎大家。

For those of you who may be new to our company and mission, there are over 5 billion mobile phones in use today around the world, but many of us still experience gaps in coverage as we live, work, and travel.

對於那些剛接觸我們公司和使命的人來說，當今世界上有超過 50 億部手機在使用，但我們中的許多人在生活、工作和旅行時仍然遇到覆蓋範圍的差距。

There are also still billions of people without cellular broadband and who remain unconnected to global economy.

還有數十億人沒有蜂巢寬頻，也與全球經濟脫節。

The markets we are pursuing are massive, and the problem we are solving is important and touches nearly all of us.

我們正在追求的市場是巨大的，我們正在解決的問題很重要並且幾乎涉及我們所有人。

In this backdrop, AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with every day mobile phones supported by our extensive IP and patent portfolio.

在此背景下，AST SpaceMobile 正在建造第一個也是唯一一個全球太空蜂窩寬頻網絡，在我們廣泛的 IP 和專利組合的支持下，直接與日常行動電話進行操作。

It is now my pleasure to pass it over to Chairman and CEO, Abel Avellan.

現在我很高興將其交給董事長兼執行長阿貝爾·阿維蘭 (Abel Avellan)。

Thank you, Scott.

謝謝你，斯科特。

Good day, everyone.

大家好。

The hard work of the past few years is culminating in a period of tremendous activity and excitement for AST SpaceMobile.

過去幾年的辛勤工作使 AST SpaceMobile 迎來了一段充滿活力和興奮的時期。

We have moved past a primary focus on improving our technology and funding our growth into the next phase of executing our vision and operationalizing our business.

我們不再將主要重點放在改進技術和為我們的成長提供資金上，而是進入下一階段執行我們的願景和經營我們的業務。

We are shifting from R&D to full scale production and commercialization of our Space-Based cellular broadband network.

我們正在將天基蜂窩寬頻網路從研發轉向全面生產和商業化。

Our technology is proven, patented and validated.

我們的技術經過驗證、取得專利並經過驗證。

Our commercial ecosystem is in place and growing.

我們的商業生態系統已經到位並且正在不斷發展。

We are funded to achieve our near-term goals and reach initial revenue.

我們獲得資金來實現近期目標並達到初始收入。

Our business is now accelerating.

我們的業務現在正在加速發展。

Just last week, our first five commercial satellites called BlueBird’s arrived in Cape Canaveral, Florida, after completing final assembly at our manufacturing facilities in Texas.

就在上週，我們的前五顆名為「藍鳥」的商業衛星在德克薩斯州的製造工廠完成組裝後抵達佛羅裡達州卡納維爾角。

These satellites are now undergoing final preparation for integration with Falcon 9 launch vehicle for a dedicated mission.

這些衛星目前正在進行最後的準備工作，以便與獵​​鷹 9 號運載火箭集成，以執行專門的任務。

We have seven-day contracted orbit and launch window in the first half of September.

我們有7天的合約軌道和9月上半月的發射窗口。

Our current expectation is that we will launch in the first half of September.

我們目前的預期是九月上半月推出。

So this is ultimately based on a variety of factors outside our control, including the weather conditions.

因此，這最終取決於我們無法控制的各種因素，包括天氣條件。

As the target date is finalized, we will communicate this with the public.

目標日期確定後，我們將與公眾溝通。

To put our first commercial satellite into orbit, release a culmination of significant progress to the date.

為了將我們的第一顆商業衛星送入軌道，我們發布了迄今為止重大進展的頂峰。

I am incredibly proud of our team.

我為我們的團隊感到無比自豪。

We have spent over seven years and over $1 billion investment to get to this point, along the way generating over 3,400 patent and patent pending claims, completing the assembly, testing, and other logistics to ensure that our BlueBird were ready to transport to Florida and were ready to launch is a major milestone for our company and mission.

我們花了七年多的時間和超過10 億美元的投資才達到這一目標，在此過程中產生了3,400 多項專利和正在申請專利的索賠，完成了組裝、測試和其他物流，以確保我們的BlueBird 準備好運送到佛羅裡達州和準備推出是我們公司和使命的一個重要里程碑。

These BlueBird's will each be the largest communications array ever to be deployed commercially into loaded orbit.

這些「藍鳥」將成為有史以來商業部署到裝載軌道的最大通訊陣列。

These arrays provide a strong signal that can reach standard smartphones directly to provide cellular broadband service and other non-communication government applications.

這些陣列提供的訊號很強，可以直接到達標準智慧型手機，以提供蜂窩寬頻服務和其他非通訊政府應用。

With these initial commercial satellites, we are targeting nearly 100% geographical coverage for the continental United States using premium 850 MHz low-band spectrum, which offers superior signal penetration in the low-band spectrum range.

借助這些最初的商業衛星，我們的目標是使用優質 850 MHz 低頻段頻譜實現美國大陸近 100% 的地理覆蓋，從而在低頻段頻譜範圍內提供卓越的訊號穿透能力。

Low-band frequencies travel longer distances and penetrate deeper into buildings and through foliage compared to higher frequencies.

與較高頻率相比，低頻段頻率傳播的距離更長，可以更深入地穿透建築物和樹葉。

These first five satellites will provide non-continuous cellular broadband service nationwide across the United States.

前五顆衛星將在美國全國範圍內提供非連續蜂窩寬頻服務。

After a few months of in-orbit service activation, this initial service for AT&T and Verizon beta test users will start with 5,600 sales across the country.

在軌道服務啟動幾個月後，這項針對 AT&T 和 Verizon Beta 測試用戶的初始服務將在全國銷售 5,600 台。

This progress was made possible in large part due to the continued and growing support of our strategic partners.

這項進展的實現在很大程度上歸功於我們戰略合作夥伴持續不斷的支持。

During the second quarter, we secured another major strategic financing partner and customer, adding Verizon to a top tier group that also include AT&T, Vodafone, Google, American Tower, Rakuten, Bell Canada and others.

第二季度，我們獲得了另一個主要策略融資合作夥伴和客戶，將 Verizon 納入頂級集團，該集團還包括 AT&T、沃達豐、谷歌、美國鐵塔、樂天、加拿大貝爾等。

This $100 million commitments from Verizon, including $65 million of commercial prepayments and $35 million convertible notes just a few months after strategic financing with AT&T, Google and Vodafone.

在與 AT&T、Google和沃達豐進行策略性融資幾個月後，Verizon 承諾承諾支付 1 億美元，其中包括 6,500 萬美元的商業預付款和 3,500 萬美元的可轉換票據。

It's another powerful validation of our technology and our business model.

這是對我們的技術和商業模式的另一個有力驗證。

This investment closely followed the definitive and commercial agreement announced with AT&T in May.

這項投資緊隨 5 月與 AT&T 宣布的最終商業協議之後進行。

Bringing on Board two major US mobile operators in the most valuable wireless market in the world was a transformational commercial milestone for us.

將美國兩大行動營運商引入全球最有價值的無線市場對我們來說是一個商業轉型里程碑。

During the last few months, we shifted our manufacturing focus to increase Block 2 production, incorporating the lesson learned from manufacturing of the first five commercial satellites.

在過去的幾個月裡，我們將製造重點轉向增加 Block 2 的產量，並吸取了前五顆商業衛星製造的經驗教訓。

We are continue planning and initial production for the first 17 Block satellites to rebuilding phases within the initial launch in Q1 of 2025.

我們正在繼續規劃和初步生產前 17 顆 Block 衛星，並在 2025 年第一季首次發射時進入重建階段。

These satellites, when equipped with our ASIC will be approximately 2,400 square feet in size and are expected to support up to 10 fold improvement of processing bandwidth per satellite compared to Block 1 satellite that we are launching this September.

這些衛星配備我們的 ASIC 後，尺寸約為 2,400 平方英尺，與我們今年 9 月發射的 Block 1 衛星相比，預計每顆衛星的處理頻寬可提高 10 倍。

We expect to start using our ASIC on our six Block 2 satellite and we can use existing FPGA configuration for as long as it's required.

我們預計將開始在六顆 Block 2 衛星上使用我們的 ASIC，並且只要需要，我們就可以使用現有的 FPGA 配置。

Alongside this activity, we have not lost sight of our technology roadmap.

除了這項活動，我們並沒有忽略我們的技術路線圖。

We can now report that we have completed the ASIC chip tape out with the S&C.

現在我們可以報告說，我們已經完成了 S&C 的 ASIC 晶片流片。

This technology is the cornerstone of our Bloomberg Block-2 programs.

這項技術是我們 Bloomberg Block-2 計畫的基石。

The AST5000 ASIC is a novel, constant low power architecture developed to enable up to a 10 fold improvement in processing bandwidth on each satellite, unlocking opportunity for seamless Space-Based cellular broadband services worldwide.

AST5000 ASIC 是一種新穎的恆定低功耗架構，旨在將每顆衛星的處理頻寬提高 10 倍，為全球無縫天基蜂巢寬頻服務帶來機會。

With the three bits per hertz that we have demonstrated using BlueWalker-3 and our planning commercial satellite capacity of up to 40 megahertz per beam, this translating to performance of up to 120 megahertz peak data rates.

我們使用 BlueWalker-3 展示了每赫茲 3 位元的效能，並且我們規劃的商業衛星容量高達每束 40 兆赫茲，這意味著峰值資料速率高達 120 兆赫茲。

The completion of the tape out is a milestone that marked the culmination of five years of dedicated research, development and engineering expertise with approximately $45 million all developed.

流片的完成是一個里程碑，標誌著五年來專注研究、開發和工程專業知識的頂峰，總共開發了約 4500 萬美元。

In summary, we want to change the world.

總而言之，我們想要改變世界。

We're seeking to connect the billions of people who are not connected, improving public safety, enabling global commerce and for the average user who can see fewer drop calls, frustrating dead zones and missing connections.

我們正在尋求連接數十億未連網的人，改善公共安全，實現全球商業，並為一般用戶減少斷線、令人沮喪的盲點和遺失連線。

This has not been easy, as we enter a new phase for our company and deeply proud of the team we have assembled and confident in the plan ahead of us.

這並不容易，因為我們公司進入了一個新階段，我們為我們組建的團隊深感自豪，並對我們面前的計劃充滿信心。

I will now pass to Scott to provide more details on our commercial and regulatory process.

我現在將請斯科特提供有關我們商業和監管流程的更多詳細資訊。

Thank you, Abel.

謝謝你，阿貝爾。

As we accelerate the commercialization of our network, I wanted to spend a few moments to go through the commercial and regulatory progress during the quarter, including some early wins to the first five commercial satellites.

隨著我們加速網路的商業化，我想花一些時間來了解本季的商業和監管進展，包括前五顆商業衛星的一些早期勝利。

Earlier this month, we received an initial license for Space-Based operations in the US from the FCC.

本月早些時候，我們從美國聯邦通訊委員會獲得了在美國進行天基運作的初始許可證。

This initial license authorizes AST SpaceMobile to operate using V, F and UHF frequencies to support our gateway, theater link, and telemetry tracking and control operations for the first five commercial BlueBird satellites.

此初始許可證授權 AST SpaceMobile 使用 V、F 和 UHF 頻率進行操作，以支援我們的網關、戰區鏈路以及前五顆商業藍鳥衛星的遙測追蹤和控制操作。

This license will serve as our primary license for operations in the US over the life of the constellation.

該許可證將作為我們在星座生命週期內在美國運作的主要許可證。

So it was a big deal for the company and our commercialization both in the US and as a blueprint globally.

因此，這對於公司和我們在美國的商業化以及作為全球藍圖來說都是一件大事。

Going forward, we continue to work with the FCC as well as our partners AT&T and Verizon to apply for upgrades and modifications to this license to facilitate full scale commercial operations on wireless frequencies and to expand the license to support our operations over time.

展望未來，我們將繼續與FCC 以及我們的合作夥伴AT&T 和Verizon 合作，申請對此許可證的升級和修改，以促進無線頻率的全面商業運營，並隨著時間的推移擴大許可證以支持我們的營運.

This FCC authorization followed the March 2024 update of our constellation filings with the International Telecommunication Union and related filings with the FCC that placed our planned commercial satellites under the jurisdiction of the United States.

FCC 授權是在 2024 年 3 月更新我們向國際電信聯盟提交的星座文件以及向 FCC 提交的相關文件後獲得的，這些文件將我們計劃中的商業衛星置於美國的管轄之下。

This initiative represented a closer strategic alignment of our network build-out and future network operations with the United States and is a key piece of our overall regulatory strategy.

這項舉措代表了我們的網路建置和未來網路營運與美國更加緊密的戰略一致性，也是我們整體監管策略的關鍵部分。

In addition to the progress Abel reported with AT&T and Verizon, we continue to believe our patented technology, including our large phased array antenna technology in space, creates significant opportunities for new mission-critical capabilities in the government sector.

除了 Abel 與 AT&T 和 Verizon 報告的進展外，我們仍然相信我們的專利技術，包括我們的太空大型相控陣天線技術，將為政府部門的新關鍵任務能力創造重大機會。

We are moving forward with these dual use capabilities on our constellation and expect to generate revenue from both commercial and government applications.

我們正在我們的星座上推進這些雙重用途功能，並期望從商業和政府應用中產生收入。

To this effect, earlier this year, we announced that AST SpaceMobile had been awarded a new contract through a prime contractor working with the United States government.

為此，今年早些時候，我們宣布 AST SpaceMobile 已透過與美國政府合作的主承包商獲得了一份新合約。

This initial phase contract, which covers the use of BlueWalker-3 as well as the first five commercial satellites, is well underway and during the second quarter, we completed successful in orbit and ground tests, resulting in completed contractual milestones and top-line revenue.

這項初始階段合約涵蓋 BlueWalker-3 以及前五顆商業衛星的使用，目前正在順利進行，在第二季度，我們成功完成了軌道和地面測試，從而完成了合約里程碑和營收。

This government sector strategy continues to show additional early signs of strength with two new US government contract awards in recent months to one of our prime contractors.

這項政府部門策略繼續顯示出更多的早期跡象，近幾個月我們的一家主要承包商獲得了兩份新的美國政府合約。

Like the February contract, these awards represent relatively small revenue by themselves, but seek to evaluate potential for full scale, multi-year contracted services in the future.

與二月的合約一樣，這些合約本身代表的收入相對較小，但旨在評估未來全面、多年合約服務的潛力。

As is customary, contracts for these two new opportunities are still being finalized and we will provide detail if and when it becomes available.

按照慣例，這兩個新機會的合約仍在敲定中，我們將在可用時提供詳細資訊。

Our primary commercialization strategy is to position for significant revenue opportunities as we scale the constellation, but this initial progress is encouraging and we believe the progress represents an upgraded outlook for additional and larger signed contract awards over time.

我們的主要商業化策略是在擴大星座規模的過程中尋找重大收入機會，但這一初步進展令人鼓舞，我們相信，隨著時間的推移，這一進展代表了更多和更大的簽約合同的前景升級。

With that, I will now pass it to Andy Johnson, our new Chief Financial Officer, to take you through the financial update.

現在，我將把它交給我們新任財務長安迪約翰遜 (Andy Johnson)，他將帶您了解最新的財務狀況。

Thanks, Scott, and good afternoon, everyone.

謝謝斯科特，大家下午好。

I joined AST this past May because I believe wholeheartedly in the company's mission to close the digital divide by connecting young connected and was convinced that this was a once in a lifetime opportunity after visiting the manufacturing facilities in Midland, Texas.

我於今年5 月加入AST，因為我全心全意地相信該公司的使命是透過連接年輕人來彌合數位鴻溝，並且在參觀了德克薩斯州米德蘭的製造工廠後，我確信這是千載難逢的機會。

There I saw firsthand the sophistication of the company's technology and most importantly, the incredible commitment of our team, led by Abel, and producing the world's first Space-Based cellular broadband service satellites.

在那裡，我親眼目睹了公司技術的先進性，最重要的是，我們在阿貝爾領導下的團隊對生產世界上第一顆天基蜂窩寬頻服務衛星的承諾令人難以置信。

This is a seminal moment in the history of AST SpaceMobile, and I want to personally thank all of my teammates for their dedication to our mission and delivering our first five commercial BlueBird satellites for launch in just a few short weeks.

這是 AST SpaceMobile 歷史上的一個重要時刻，我個人要感謝我所有的隊友，感謝他們對我們使命的奉獻，並在短短幾週內交付了我們的前五顆商業藍鳥衛星。

I also want to thank Sean Wallace, our former CFO, who continues to consult for us for his leadership, service to the company and partnership in making my transition seamless.

我還要感謝我們的前財務長 Sean Wallace，他繼續為我們提供諮詢，感謝他的領導、對公司的服務以及合作，使我的過渡順利進行。

It's a fantastic time to be a part of the AST SpaceMobile ecosystem, which includes our shareholders, our talented employees across the globe, and our mobile network operator partners.

現在是成為 AST SpaceMobile 生態系統一部分的絕佳時機，該生態系統包括我們的股東、全球各地的優秀員工以及我們的行動網路營運商合作夥伴。

We are at the forefront of our commercial constellation deployment and I deeply appreciate those of you who are on this life changing journey with us.

我們處於商業星座部署的最前沿，我深深感謝那些與我們一起踏上改變生活旅程的人們。

Let's review the key operating metrics for the second quarter that are displayed on Slide 10.

讓我們回顧一下投影片 10 中顯示的第二季的關鍵營運指標。

On the first chart, we see for the second quarter of 2024, we had non-GAAP adjusted cash operating expenses of $34.6 million versus $31.1 million in the first quarter.

在第一張圖表中，我們看到 2024 年第二季的非 GAAP 調整後現金營運費用為 3,460 萬美元，而第一季為 3,110 萬美元。

Non-GAAP adjusted operating expenses excludes certain non-cash operating costs, including depreciation and amortization and stock-based compensation.

非公認會計原則調整後的營運費用不包括某些非現金營運成本，包括折舊和攤提以及以股票為基礎的薪資。

These expenses are up slightly from the first quarter due to final Block 1 expenses as we neared the finish line of producing five of the largest satellites ever to be deployed in low Earth orbit, including required travel expenses to the production site in Texas, expedited hiring of engineering talent in connection with our Block 2 mechanical work, as we ramp up production of our next satellites and the impact of an approximately $1 million one-time G&A expense reversal in Q1 that affects the quarter-over-quarter comparison.

這些費用較第一季略有上升，原因是我們接近生產近地軌道上部署的五顆最大衛星的最終 Block 1 費用，其中包括前往德克薩斯州生產基地所需的差旅費、加急招聘費用隨著我們提高下一批衛星的產量，以及第一季約100 萬美元的一次性一般管理費用沖銷影響環比，我們需要大量與Block 2 機械工作相關的工程人才。

Turning towards the second chart in this page, our capital expenditures for the second quarter were $21.2 million versus $26.6 million for the first quarter.

轉向本頁的第二張圖表，我們第二季的資本支出為 2,120 萬美元，而第一季的資本支出為 2,660 萬美元。

The figure was made up of capitalized direct materials and labor for Block 1 and Block 2 satellites and additional facility and production equipment for our 185,000 square foot assembly, integration and test facilities in Midland.

這一數字包括 Block 1 和 Block 2 衛星的資本化直接材料和勞動力，以及我們位於米德蘭 185,000 平方英尺的組裝、整合和測試設施的額外設施和生產設備。

As expected, capital expenditures trended down in connection with the completion of the Block 1 satellites ahead of ramping Block 2 production.

如預期的那樣，隨著 Block 1 衛星在 Block 2 產量增加之前完成，資本支出呈現下降趨勢。

By the end of the second quarter, we incurred and paid all amounts for the five Block 1 satellites.

到第二季末，我們已支付並支付了五顆 Block 1 衛星的所有款項。

Total spend for those satellites did not materially exceed our prior estimate of $115 million.

這些衛星的總支出並未大幅超出我們先前估計的 1.15 億美元。

The design, integration, testing, and launch of satellites and related ground infrastructure is capital intensive.

衛星及相關地面基礎設施的設計、整合、測試和發射是資本密集的。

We do expect our experience completing Block 1 will allow us to leverage our learnings to improve and optimize manufacturing costs for our Block 2 satellites.

我們確實希望完成 Block 1 的經驗將使我們能夠利用我們的知識來改善和優化 Block 2 衛星的製造成本。

And on the final chart on this slide, we ended the second quarter with $287.6 million in cash, up from $212.4 million at the end of the first quarter.

在這張投影片的最終圖表中，我們第二季末的現金為 2.876 億美元，高於第一季末的 2.124 億美元。

This increase includes $55 million of previously announced investment from our valued M&O partner Verizon, inclusive of a $20 million prepayment for future cellular broadband service.

這一增長包括我們重要的 M&O 合作夥伴 Verizon 先前宣布的 5500 萬美元投資，其中包括未來蜂窩寬頻服務的 2000 萬美元預付款。

Our strengthened cash position at the end of Q2 also reflects our disciplined and effective use of our now completed at-the-market or ATM equity facility, from which we raised approximately $80 million during the quarter at increasing market prices for our common stock.

我們在第二季末增強的現金狀況也反映了我們對現已完成的市場或 ATM 股權融資的嚴格有效使用，我們在本季度以普通股市場價格上漲的方式籌集了約 8000 萬美元。

As of the end of July, we completed the two-year use of the existing ATM facility and the existing common stock purchase facility with $164 million of total raise to support operating expenses and preserve our capital for building the constellation.

截至 7 月底，我們完成了現有 ATM 設施和現有普通股購買設施的兩年使用，籌集的資金總額為 1.64 億美元，用於支持營運費用並保留用於建設星座的資本。

During this two-year period, we were prudent in our timing and use of these facilities, consuming less than 75% of the combined facility's capacity and raising capital at more than a 50% premium to our stock's volume weighted average price.

在這兩年期間，我們對這些設施的時機和使用持謹慎態度，消耗了不到合併設施產能的 75%，並以比我們股票成交量加權平均價格高出 50% 以上的溢價籌集資金。

We continue to consider using the balance of our senior credit facility, which has a gross amount available to us of $51.5 million.

我們繼續考慮使用優先信貸額度的餘額，我們可用的總金額為 5,150 萬美元。

Today, however, our efforts around raising strategic capital, including non-dilutive prepayments from our M&O partners as we ready for service are taking precedence over the senior credit facility, which in turn continues to reduce negative carry we would have incurred if we had accessed the facility earlier.

然而，如今，我們圍繞籌集策略資本所做的努力，包括在我們準備好提供服務時從M&O 合作夥伴處支付的非稀釋性預付款，優先於高級信貸安排，這反過來又繼續減少我們在獲得服務時可能產生的負利差設施較早。

Our ability to access this facility remains subject to certain conditions and approvals.

我們使用該設施的能力仍然受到某些條件和批准的限制。

I'd like to reiterate that we currently have no plans for the remainder of this year to pursue an underwritten public equity offering.

我想重申，我們目前沒有計劃在今年剩餘時間內進行承銷的公開股票發行。

We previously provided guidance on our expected operating expense levels.

我們之前就預期營運費用水準提供了指導。

We have been supporting the development and production efforts of our two critical satellite designs, Block 1 and Block 2, our ASIC chip design, and the five Block 1 satellites.

我們一直在支援我們的兩個關鍵衛星設計（Block 1 和 Block 2）、我們的 ASIC 晶片設計以及五顆 Block 1 衛星的開發和生產工作。

The completion of this Block 1 work and a significant portion of the Block 2 development and ASIC tape out completion is expected to result in a reduction in our adjusted operating expenses and capital expenditures in future periods.

Block 1 工作的完成以及 Block 2 開發和 ASIC 流片的大部分完成預計將導致我們未來期間調整後的營運費用和資本支出減少。

Consistent with the first and second quarters of 2024, we continue to project that our adjusted cash operating expenses for the remainder of the year will come in within a range of $30 million to $35 million per quarter based on business conditions and speed of constellation deployment and as the Block 2 design approaches completion and our focus turns to scaled production.

與 2024 年第一季和第二季一致，我們繼續預計，根據業務狀況和星座部署速度，今年剩餘時間調整後的現金營運支出將在每季 3000 萬至 3500 萬美元的範圍內。 2 設計接近完成，我們的重點轉向規模化生產。

We believe efforts to optimize our OpEx will result in a run rate at the low end of that range.

我們相信，優化營運支出的努力將導致運行率處於該範圍的低端。

These figures will vary depending upon manufacturing activity in each period.

這些數字將根據每個時期的製造活動而有所不同。

This guidance does not include the expected costs of approximately $15 million related to the tape out and initial production of our ASIC chips.

本指南不包括與 ASIC 晶片流片和初始生產相關的約 1500 萬美元的預期成本。

These ASIC-related costs will be recognized as an R&D expense in subsequent quarters in 2024 as milestones are completed.

隨著里程碑的完成，這些 ASIC 相關成本將在 2024 年後續季度確認為研發費用。

Timing of the changes in our adjusted operating expenditures and capital expenditures as I have just described could be delayed or may not be realized due to a variety of factors.

由於多種因素，我剛才描述的調整後的營運支出和資本支出的變化時間可能會延遲或可能無法實現。

Finally, we continue to work on developing a financing package from export credit agencies to source cost effective long-term debt funding of large projects.

最後，我們持續致力於制定出口信貸機構的融資方案，為大型專案提供具有成本效益的長期債務融資。

We will keep you abreast of our progress.

我們將讓您及時了解我們的進展。

It's been a fantastic first 90 days.

前 90 天真是太棒了。

I look forward in the future to getting to know many of you and working hard to drive value for our shareholders as we position AST for full scale commercial operations.

我期待著將來能夠認識你們中的許多人，並努力為我們的股東創造價值，因為我們將 AST 定位為全面的商業運營。

And with that, this completes the presentation component of our earnings call and I pass it back to Scott.

至此，我們的財報電話會議的演示部分就完成了，我將其傳回給斯科特。

Thank you, Andy.

謝謝你，安迪。

Before we go to the queue of analyst questions, we'd like to address a few of the questions submitted by our investors.

在回答分析師問題之前，我們想先回答投資人提出的一些問題。

Operator, could you please start us off with the first question.

接線員，請您先回答第一個問題。

Tanner asked, will you wait until the first BB Block 2 is launched and unfolded before working on additional BB?

Tanner 問道，你們會等到第一個 BB Block 2 推出並展開後再進行其他 BB 的工作嗎？

Thanks, Tanner for the question.

謝謝坦納提出的問題。

No, the answer is no.

不，答案是否定的。

We're already working on the next build of the subsequent satellites.

我們已經在研究後續衛星的下一個版本。

We are actually in the process of building parts for the next 17 satellites.

實際上，我們正​​在為接下來的 17 顆衛星製造零件。

The main mechanical system is changes and upgrades, but it's basically the same as BlueWalker 3 and Block 1 and we will not wait for that deployment to continue building.

主要的機械系統是變化和升級，但它與 BlueWalker 3 和 Block 1 基本相同，我們不會等待部署繼續建造。

So we're in the process of building we actually started a few months back our next satellites built.

因此，我們正在建造我們實際上幾個月前就開始建造的下一顆衛星。

With the next satellite, we have a satellite that will be equipped with the FPGA and a satellite that will be equipped with the ASIC.

對於下一顆衛星，我們有一顆將配備 FPGA 的衛星和一顆將配備 ASIC 的衛星。

And the first launch of four will be based on FPGAs, and the subsequent satellites will be Block 2 -- first four Block 2 and the subsequent after that will be all based on ASIC, which is a 10 fold improvement compared to the FPGA.

首次發射的四顆衛星將基於 FPGA，後續發射的衛星將是 Block 2——前四顆 Block 2 以及之後的衛星將全部基於 ASIC，這比 FPGA 提高了 10 倍。

And we're fully focused in building our next batch of satellites and to get them on the air as soon as possible.

我們完全專注於建造下一批衛星並儘快讓它們升空。

Matt asked, you mentioned that full US coverage is the first priority.

馬特問，你提到美國的全面覆蓋是首要任務。

What regions will you look to fulfill next and in what timeframe?

您下一步打算在哪些地區以及在什麼時間範圍內完成任務？

Hey Matt, thank you for the question.

嘿馬特，謝謝你的提問。

Yes, our -- obviously the US market is the largest a more developed wireless market.

是的，我們的——顯然美國市場是最大的、更發達的無線市場。

In this market we have AT&T and Verizon and yet, we will be prioritizing deployment for the US market.

在這個市場上，我們有 AT&T 和 Verizon，但我們將優先針對美國市場進行部署。

Then we will prioritize investors and M&Os that are paying prepaid revenue.

然後我們將優先考慮支付預付費收入的投資者和併購企業。

That includes Vodafone markets, that include Rakuten in Japan and then new M&Os that are going to be prepaid for initialization of the service as a priority.

其中包括沃達豐市場，包括日本的樂天市場，以及新的 M&O 市場，這些市場將優先為服務初始化進行預付。

We are launching on a 50 degree of inclination.

我們以 50 度的傾斜度發射。

So basically we can cover all the latitudes from 59 degrees north to 59 degrees south.

所以基本上我們可以涵蓋北緯59度到南緯59度的所有緯度。

So we have the benefit of being able to select the regions that we prioritize according to prepayment priorities set by new investors.

因此，我們的好處是能夠根據新投資者設定的預付款優先順序來選擇我們優先考慮的區域。

Cody asked, what concerns does the company have being that we are currently in a solar maximum.

科迪問道，公司目前正處於太陽活動極大期，對此有何擔憂。

How susceptible are your satellites to solar storms?

您的衛星對太陽風暴有多敏感？

Thank you, Cody for the question.

謝謝科迪提出的問題。

Well, first of all, before I answer the question, let me remind everybody about how we design these satellites.

嗯，首先，在回答問題之前，讓我先提醒大家我們是如何設計這些衛星的。

These satellites -- they're big, they are built out of identical modules that we call microns that make this satellite system very resilient and it's built out of a distributed system that no one single part can make the satellite to fail and that make it very resilient to the space weather, including solar storms and other conditions.

這些衛星很大，它們是由相同的模組建構而成，我們稱之為微米，這使得這個衛星系統非常有彈性，並且它是由分散式系統建構的，沒有任何一個部件可以使衛星發生故障，這使得它成為可能。

We had all the data that we have collected over two years operating BlueWalker 3 and we really -- of course, we have needed a time to react to solar activities but never having a failure caused by it.

我們擁有運行 BlueWalker 3 兩年來收集的所有數據，當然，我們確實需要一段時間對太陽活動做出反應，但從未出現過由此引起的故障。

So we are very confident on our satellites resilient is where need to be as it relates to weather conditions.

因此，我們對我們的衛星的彈性能力非常有信心，因為它與天氣條件有關。

Tanner asked after the first BB Block 2, how many at a time will be launched?

Tanner 在第一個 BB Block 2 推出後問道，一次會推出多少個？

Okay.

好的。

Well we have decided -- thank you, Tanner for the question.

好吧，我們已經決定了——謝謝坦納提出的問題。

But we have decided the system to be launch agnostic.

但我們已決定該系統與啟動無關。

So we basically envelop our profile to able to support basically every large or medium launch service provider, launch systems.

因此，我們基本上涵蓋了我們的概況，以便能夠支援基本上每個大型或中型發射服務提供者、發射系統。

And depending on the size of the launch, I mean on Block 1 we're launching five satellites in a Falcon 9.

根據發射規模，我的意思是，在 Block 1 中，我們將使用獵鷹 9 號發射五顆衛星。

And depending on the launch configuration and the launch vehicle, it will be anywhere between four per launch for the new larger Block 2 or eight per launch depending on the launch vehicles.

根據發射配置和運載火箭，新的更大的 Block 2 每次發射 4 顆，或每次發射 8 顆，具體取決於運載火箭。

And with that, I'd like to thank our shareholders for submitting these questions.

在此，我要感謝我們的股東提出這些問題。

Operator, let's open the call to analyst questions.

接線員，讓我們開始分析師提問。

(Operator Instructions) Griffin Boss, B. Riley Securities.

（操作員指示）Griffin Boss，B. Riley Securities。

Hi, good afternoon.

嗨，下午好。

Thanks for taking my questions.

感謝您回答我的問題。

So first for me, the 17 satellites under construction is certainly more than what we expected.

首先對我來說，正在建造的 17 顆衛星肯定比我們預期的要多。

How would you characterize your current production capacity?

您如何評價您目前的生產能力？

I know in the past, you've discussed expectations to reach something, I think equivalent to six satellite per month cadence.

我知道過去，您已經討論過實現某些目標的期望，我認為相當於每月六顆衛星的節奏。

Have you reached that?

你達到那個程度了嗎？

Are you tracking better?

你追蹤得更好嗎？

Any more color would be helpful.

任何更多的顏色都會有幫助。

Yeah.

是的。

I mean, when we say 17 satellites that referred to the sub-system that we are producing.

我的意思是，當我們說 17 顆衛星時，指的是我們正在生產的子系統。

They don't need to be all produced at the same time.

它們不需要同時生產。

So we actually time them.

所以我們實際上給它們計時。

So we start with the long lead items.

因此，我們從長週期專案開始。

We start them first.

我們首先啟動它們。

The parts that take more time to get out of the factory, they are being produced for 17 units.

這些零件需要更長的時間才能出廠，它們的產量為 17 輛。

And for that, we buy parts in advance.

為此，我們提前購買零件。

We start manufacturing them way in advance.

我們提前開始製造它們。

And as we need it, so we keep ordering the different parts for the system.

由於我們需要它，所以我們不斷為系統訂購不同的部件。

Yeah, we're ramping up.

是的，我們正在加速。

We are accelerating our production cadence.

我們正在加快生產步調。

Going through the five first commercials that we're launching now in September has helped us to expand our production capacity.

我們在 9 月推出的前五個廣告幫助我們擴大了生產能力。

Also going forward, we have work on vertically integrating around 95% of the subsystems.

此外，我們還將致力於垂直整合約 95% 的子系統。

So we either control the IP, manufacture by ourselves, and control the manufacturing process for around 95% of the satellites that are on build going forward.

因此，我們要么控制知識產權，自行製造，要么控制未來正在建造的大約 95% 的衛星的製造過程。

Great.

偉大的。

Thanks, Abel, for that color.

謝謝阿貝爾，給我這種顏色。

Appreciate it.

欣賞它。

And in terms of the initial Block 2 satellite launch, are you still tracking for the late 4Q, early 2025, kind of launch window there?

就最初的 Block 2 衛星發射而言，您是否仍在追蹤第四季末、2025 年初的發射窗口？

Are there any delays or issues you're seeing with the launch provider?

您在啟動提供者方面是否遇到任何延遲或問題？

No, we're still tracking for Q1 2025.

否，我們仍在追蹤 2025 年第一季。

Okay.

好的。

Great, Glad to hear it.

太好了，很高興聽到。

And then, so Scott, there was sort of an informal interview with you recently on a financial blog where you cited some ARPU assumptions for the US.

然後，斯科特，最近在一個金融部落格上對您進行了一次非正式採訪，您引用了一些針對美國的 ARPU 假設。

I can't recall hearing the company formally mention potential ARPU in the past.

我不記得過去曾聽過該公司正式提及潛在的 ARPU。

So I would love it if there are any assumptions or expectations for ARPU you can share it today, especially now that you've got two definitive agreements under your belt?

因此，如果您今天可以分享對 ARPU 的任何假設或期望，尤其是現在您已經達成了兩項明確的協議，我會很高興？

Hey Griffin, how you're doing?

嘿，格里芬，你好嗎？

No, we've been making a lot of progress with commercial agreements, and alongside that, been advancing our go-to-market strategies, as you would expect.

不，我們在商業協議方面取得了很大進展，同時，正如您所期望的那樣，我們一直在推動我們的市場策略。

We don't have any pricing or go-to-market strategies to report at this time.

目前我們沒有任何定價或上市策略可供報告。

And I think that article was misquoted.

我認為那篇文章被錯誤引用了。

But we're very excited about the revenue share model that we've been pushing for a long time, and we're very excited about the adoption rates and the ability to command a good wallet on this service.

但我們對長期以來一直在推動的收入分成模式感到非常興奮，我們對這項服務的採用率和控制良好錢包的能力感到非常興奮。

So no pricing guidance at this time, but I would say that go-to-market planning has definitely accelerated.

因此，目前沒有定價指導，但我想說，上市計劃肯定已經加速。

Okay.

好的。

Got it.

知道了。

Understood.

明白了。

Thanks, Scott.

謝謝，斯科特。

And last for me, very quickly, I'll pass it off; I just want to confirm that this new contract liabilities line item we're seeing in the statement of cash flows is that reflecting the Verizon revenue commitment?

最後對我來說，很快，我就會把它傳遞出去；我只是想確認一下，我們在現金流量表中看到的這個新合約負債項目是否反映了 Verizon 的收入承諾？

Or is that something else?

還是別的什麼？

Yeah, this is Andy, Griffin.

是的，這是安迪，格里芬。

I do think it's the revenue commitments against the prepayments and so forth, so none of that's revenue at this point yet until the services are initiated.

我確實認為這是針對預付款等的收入承諾，因此在服務啟動之前，目前這些都不是收入。

Got it.

知道了。

Okay.

好的。

Thanks, Andy, and welcome to the company, and thanks for taking my questions, everyone.

謝謝安迪，歡迎來到公司，謝謝大家提出我的問題。

Benjamin Soff, Deutsche Bank.

班傑明‧索夫，德意志銀行。

Yeah.

是的。

Hey guys, thanks for taking the question.

嘿夥計們，感謝您提出問題。

Exciting quarter with a lot of interesting development.

這是令人興奮的季度，有很多有趣的發展。

I was wondering, now that the satellites are on-site in Florida, can you walk us through the timeline and key milestones between launching in early September until you get to commercial service?

我想知道，現在衛星已在佛羅裡達州就位，您能否向我們介紹從 9 月初發射到投入商業服務之間的時間表和關鍵里程碑？

Yeah, we actually -- So we actually indicate now, we were on final preparation for launch.

是的，我們實際上 - 所以我們現在實際上表明，我們正在為發射做最後的準備。

The plan is to launch early September, first half of September.

計劃是九月初、九月上半月推出。

We anticipate few months to basically activate service on those first five satellites.

我們預計需要幾個月的時間才能基本啟動前五顆衛星的服務。

We have two type of users already booked on them.

我們已經有兩類用戶預訂了它們。

One is a Gorman user, and then we have our MNOs.

一個是 Gorman 用戶，然後是我們的 MNO。

We are prioritizing US, Vodafone, and our investors and people that have an MNOs that are preparing or are going to prepare for services.

我們優先考慮美國、沃達豐以及我們的投資者和擁有正在或將要準備服務的行動網路營運商的人員。

So in terms of timeline is, we launch a few months to activate services, and then we are already preparing and have prepared all the ground infrastructure to start connecting to the spacecraft.

所以就時間表而言，我們發射幾個月來啟動服務，然後我們已經在準備並準備好所有地面基礎設施來開始連接到太空船。

So we will have some early usage immediately after for the Gorman, in parallel with the MNOs.

因此，我們將立即對 Gorman 進行一些早期使用，與 MNO 並行。

Okay.

好的。

Great.

偉大的。

And then just going back to the 17 Block 2 satellites, do you have any updated thoughts on the cost per satellite and the timing to launch those?

然後回到 17 顆 Block 2 衛星，您對每顆衛星的成本和發射時間有什麼最新的想法嗎？

Yeah.

是的。

We are maintaining our guidance on cost.

我們維持成本指引。

Actually, we continue to look for ways to continue to improve our cost basis, as we are getting close to 95% vertical integration, but the guidance per satellite remain the same.

事實上，我們仍在繼續尋找方法來繼續改善我們的成本基礎，因為我們的垂直整​​合率已接近 95%，但每顆衛星的指導保持不變。

And as I said, we're starting a launch campaign, starting in Q1 and then following-up with additional launches as the satellites are ready and the launches are available.

正如我所說，我們正在啟動發射活動，從第一季開始，然後在衛星準備就緒且發射可用時進行更多發射。

Okay, great.

好的，太好了。

Thanks, guys.

謝謝，夥計們。

Chris Schoell, UBS.

克里斯‧舍爾，瑞銀集團。

Great.

偉大的。

Thank you.

謝謝。

We've seen a number of regulatory milestones here in recent months.

近幾個月來，我們看到了許多監管里程碑。

Can you help us think through your remaining approval process here in the US and the likely timeline for that?

您能否幫助我們思考一下您在美國的剩餘審批流程以及可能的時間表？

And I think there was general optimism previously that other countries could follow suit with similar rulemaking to the US Have you seen any evidence of that to-date?

我認為之前人們普遍樂觀地認為其他國家可以效仿，制定與美國類似的規則，迄今為止您看到過任何這方面的證據嗎？

Hey Chris, it's Scott here.

嘿克里斯，我是史考特。

Yeah, so clearly, we're happy with the progress this year on the regulatory front, as we mentioned in our remarks.

是的，很明顯，正如我們在發言中提到的，我們對今年在監管方面取得的進展感到高興。

And the FCC does truly play a leadership role globally with other countries.

FCC 確實在全球範圍內與其他國家一起發揮領導作用。

So in our initial markets, we're working with our close partners on moving all the regulatory processes forward.

因此，在我們最初的市場中，我們正在與密切的合作夥伴合作，推動所有監管流程的發展。

We've been relatively pleased with how that's progressed with no showstoppers, really.

我們對在沒有出現任何阻礙的情況下的進展感到相對滿意，真的。

We really view it as a process that we go through diligently and that the FCCs demonstrated a lot of leadership this year with developing new rules for supplemental coverage from space and things like that.

我們確實認為這是一個我們勤奮經歷的過程，聯邦通信委員會今年在製定太空補充覆蓋等新規則方面表現出了很大的領導力。

So for us, I think initial markets are trending positively in the US.

因此，對我們來說，我認為美國的初始市場趨勢積極。

Next milestones to look for, there'll be a lot of filings going forward.

尋找下一個里程碑，未來將會有大量的申請。

I think part of commercial service is just there's a lot of regular filings that come.

我認為商業服務的一部分就是有很多定期提交的文件。

So there'll be filings about gateways on the ground.

所以會有關於地面網關的備案。

There'll be filings about test campaigns on when we first start getting Block 1 going.

當我們第一次開始進行 Block 1 時，將會有關於測試活動的文件。

And then the big one is SCS rights in the US with the FCC.

最重要的是美國聯邦通訊委員會 (FCC) 的 SCS 權利。

So that's something that will be -- they'll start seeing filings on that with us and with our two partners in the US.

所以這將會是——他們將開始看到我們和我們在美國的兩個合作夥伴的相關文件。

Okay.

好的。

Great.

偉大的。

And if I can just fit in one more, I think you mentioned no public equity offering this year, but as you look toward Block 2 and beyond, can you just help us think through the timing of additional funding requirements and how do you think about the trade-offs for different capital sources going forward?

如果我可以再補充一點，我想您提到今年沒有公開股票發行，但是當您展望第 2 塊及以後的項目時，您能否幫助我們考慮一下額外融資要求的時間安排以及您如何考慮未來不同資本來源的權衡？

Thank you.

謝謝。

Sure.

當然。

This is Andy.

這是安迪。

Chris, thanks for the question.

克里斯，謝謝你的提問。

So as we noted, I think our priority right now is to continue our current operating model of working on prepayment relationships with our MNO partners.

正如我們所指出的，我認為我們現在的首要任務是繼續我們目前與行動網路營運商合作夥伴建立預付款關係的營運模式。

That's been a very effective way to raise required capital.

這是籌集所需資金的非常有效的方式。

And we have a number of MNO partners that we're making progress with in that respect.

我們有許多行動網路營運商合作夥伴，我們正在這方面取得進展。

So non-dilutive approach is sort of how we're viewing our near-term opportunity.

因此，非稀釋方法是我們看待近期機會的方式。

We also have, in that same vein, we have the opportunity to realize certain milestones in connection with the launch with respect to our existing MNO partners among Vodafone and AT&T and Verizon, which could be meaningful capital.

同樣，我們還有機會實現與沃達豐、AT&T 和 Verizon 等現有 MNO 合作夥伴的推出相關的某些里程碑，這可能是有意義的資本。

And we'll continue to analyze what's available to us.

我們將繼續分析我們可用的內容。

We're very cognizant of different capital structures, debt, equity opportunities, but we wanted to reiterate the fact that we are focused on being good custodians and weighing the capital needs that are inherent to a satellite business that's as capital-intensive as we are with the fact that our shareholders expect us to be responsible as it relates to dilution.

我們非常了解不同的資本結構、債務、股權機會，但我們想重申這樣一個事實，即我們專注於成為良好的託管人，並權衡像我們一樣資本密集型的​​衛星業務固有的資本需求事實上，我們的股東希望我們對稀釋問題負責。

So I reiterated our point from last quarter that we have no current plans to do a public security equities offering.

因此，我重申了上個季度的觀點，即我們目前沒有計劃進行公共證券股票發行。

And that's our plan for the end of 2024.

這就是我們 2024 年底的計畫。

And that we think we have a lot of opportunity to continue to make progress on cash as we optimize some of our expenses and turn toward a real focus on Block 2 for the remaining four or five months of the year.

我們認為，隨著我們優化一些支出，並在今年剩餘的四五個月內真正關注第二塊，我們有很多機會繼續在現金方面取得進展。

Great.

偉大的。

Thank you very much.

非常感謝。

Chris Quilty, Quilty Analytics.

克里斯·奎爾蒂，奎爾蒂分析。

Thank you.

謝謝。

So I noted that in the press release, you mentioned that there is an outlook for larger size government contract awards.

因此，我注意到，您在新聞稿中提到，預計會授予更大規模的政府合約。

And I mean, are we talking kind of like Phase 3 or some OTAs or a budget line item in terms of the types of programs that you might be able to participate in?

我的意思是，我們談論的是第 3 階段或一些 OTA 或預算項目，您可以參與的項目類型？

Hey Chris, yes, Scott here.

嘿克里斯，是的，斯科特在這裡。

I think all of the above are on the table, Chris, over time, right?

克里斯，我認為隨著時間的推移，以上所有內容都會擺在桌面上，對嗎？

The contracts that we announced earlier in the year and then the awards we referenced on this call, these are all, like I said, early opportunities, small revenue, kind of the fewer Phase 1 type of stuff that you referred to.

我們今年早些時候宣布的合同，以及我們在這次電話會議中提到的獎項，就像我說的，這些都是早期機會、小收入、你提到的較少的第一階段類型的東西。

But as you know, the intent of programs like that is not to do a science project, but rather to build out a capability.

但如您所知，此類計劃的目的不是進行科學項目，而是建立一種能力。

And so that's what we're referring to in our remarks that initial tests are going well.

這就是我們在評論中所說的，初步測試進展順利。

Other initial contracts awards have been made through our prime contractor partners.

其他初始合約是透過我們的主承包商合作夥伴授予的。

And the outlook for those has improved.

這些的前景已經有所改善。

Got you.

明白你了。

And mentioning your prime contractors, some of those are involved in the PLEO contract.

提到你們的主承包商，其中一些涉及 PLEO 合約。

Is it fair to assume that that could be a potential vehicle for funding or

假設這可能是潛在的融資工具是否公平？

--?

——？

We don't want to comment on specific programs at this time, Chris.

克里斯，我們現在不想對具體計劃發表評論。

Also, just back to the ASIC, I mean, is it fair to assume that the ASIC production or delivery into production is sort of the gating factor for -- scaling up to the full Block 2 satellites?

另外，回到 ASIC，我的意思是，假設 ASIC 生產或交付生產是擴大到完整的 Block 2 衛星的限制因素是否公平？

No, Chris.

不，克里斯。

I mean, the size of the satellite, the 2,400 square feet, the largest size for Block 2 is independent, if they are equipped with FPGA or ASIC.

我的意思是，衛星的大小，2,400 平方英尺，Block 2 的最大尺寸是獨立的，如果它們配備了 FPGA 或 ASIC。

We have completed the ASIC FPGA tape out.

我們已經完成了 ASIC FPGA 的流片。

The first launches will be still on an FPGA configuration, but we can keep launching on FPGA for as long as is needed.

首次發布仍將基於 FPGA 配置，但只要需要，我們就可以繼續在 FPGA 上發布。

So there is not a prerequisite for launches.

因此，不存在啟動的先決條件。

But of course, we want to incorporate the ASIC as that is a 10 times increase in capacity per satellite.

當然，我們希望採用 ASIC，因為這將使每顆衛星的容量增加 10 倍。

And we're very happy to conclude the tape out.

我們很高興完成錄音。

It's -- we received the first dive several weeks back, and we're incorporating into our micron design as we continue to build the next batch of satellites.

它是——我們在幾週前收到了第一次潛水，當我們繼續建造下一批衛星時，我們正在將其納入我們的微米設計中。

Grerat.

偉大的。

Thanks for all the the details.

感謝您提供所有詳細資訊。

Thank you.

謝謝。

At this time, I'm showing no further questions.

目前，我沒有再提出任何問題。

I would like to turn the call back over to management for closing remarks.

我想將電話轉回管理層以供結束語。

Thank you, Operator.

謝謝你，接線生。

We're building a Space-Based cellular broadband network designed for the use of the phone in your pocket today, and other government applications.

我們正在建立一個天基蜂窩寬頻網絡，旨在供您今天口袋裡的手機以及其他政府應用程式使用。

We want to thank all of our shareholders and the research analysts for joining the call and everyone's continued strong support of our mission, and we look forward to the upcoming launch.

我們要感謝所有股東和研究分析師的加入，感謝大家對我們使命的持續大力支持，我們期待即將推出的產品。

Thank you.

謝謝。

And this concludes today's conference.

今天的會議到此結束。

You may disconnect your lines at this time.

此時您可以斷開線路。

Thank you for your participation.

感謝您的參與。